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Tuesday, April 9, 2013

Analyst Tries to Temper Expectations For Ohio Energy Production Results

From Sterne Agee via the Akron Beacon Journal:
The investment community continues to wait for the Ohio Department of Natural Resources (DNR) to release all Utica Shale wells drilled in Ohio in 2012. We expected a release late last week, but still haven't received anything. We believe results are likely to be posted on the state's web site this week.
  • What to Expect With the Data. If the 2012 list looks like the 2011 list, we will be left without much insight into the production potential of the play. We expect to see a list of 50-60 wells that were turned to sales in 2012. We also expect to see total gas, oil and brine production, as well as days on production. We do not expect to get any insight into NGL processing that may have occurred on the high-BTU content gas producing across much of the Utica Shale. For comparative purposes, we have included the 2011 results on page 2.
No Surprises Expected With Gulfport Energy. We expect to receive production data from two Gulfport Energy (GPOR, Buy) wells that began producing in late 2012 -- the Wagner 1-28H and the Boy Scout 1-33H wells. The company provided detailed production data about these two wells in its 4Q earnings call.
Read the rest of the article here.

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